Decimal, Fractional And US Odds
Odds determine the likelihood of an event happening—the outcome of an NHL match between two teams. Though all of them expresses the same public reception for the underdog and the favored team, not all of them are represented in the same manner. In NHL betting, you will encounter Decimal, Fractional and US odds along the way. Following our NHL betting guide, we’ll take the full responsibility and teach you the difference between the different odds. Know how to compute your payout. Find out which odds representation works with your needs best. More than that, always remember the following equation:
stake + profit = payout
Before performing any odds conversion, computation, and comparison involving Decimal, Fractional and US odds, you must first understand the difference between a profit and a payout. The bet you place for each event is called a stake. It is a part of your payout, but not your profit. The entire amount you win from a bet that the sportsbook pays back is your payout, while the financial gain or the amount you earned on top of your stake is your profit. There should be no confusion between the two as you will be using all the variables mentioned to compute your betting value using the odds presented.
Getting Accustomed To Different Odds Representations
Understanding sports betting odds is one of the first things beginners should learn. Take note that the requirement for the lesson depends on the type of odds used by the bookmaker. Each sportsbook translate odds differently. Some may prefer displaying fractional odds, while others may opt for decimal and US odds. Hence, it is necessary to familiarize yourself with the most widely-used betting odds.
Decimal odds – The easiest and simplest type of betting odds popular in Europe, Australia, New Zealand, and Canada markets. You can easily compute your possible payout by just multiplying every unit you stake and the odds presented. The total amount from your calculation already includes your returned stake and profit.
Fractional odds – The most commonly used odds in Ireland and United Kingdom markets. It is presented in two numbers or a fraction. Your payout is the numerator and your stake is the denominator; for every unit you stake in the denominator, your total profit is the numerator. The sum of both numbers is your payout.
US odds – Also known as American odds. This contains two set of numbers representing the favored team and the underdog (Negative numbers for the favored and positive numbers for the underdog). The negative odds show the amount you need to stake to win 100 mBTC, while the positive odds show the profit you can get for every 100 mBTC bet.